# Recreational Vehicles — company-by-company sector analysis

> Recreational Vehicles: THOR Industries, Inc. owns the largest revenue base; BRP Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Recreational Vehicles has underperformed S&P 500 by 1.7% over 52 weeks and 1.6% over 13 weeks. 3 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 10 beat the sector itself. THOR Industries, Inc. leads with revenue of $9,821 million, based on 8 of 10 comparable companies through Jun 2026.

### Is the Recreational Vehicles sector outperforming S&P 500?

Recreational Vehicles has underperformed S&P 500 by 1.7% over 52 weeks and 1.6% over 13 weeks. 3 of 10 covered companies beat the S&P 500 on Mansfield relative strength, while 4 of 10 beat the sector itself.

### Which Recreational Vehicles company is largest by revenue?

THOR Industries, Inc. leads with revenue of $9,821 million, based on 8 of 10 comparable companies through Jun 2026.

### Which Recreational Vehicles company is growing fastest?

BRP Inc. has the fastest current revenue growth at 16%, across 8 of 10 comparable companies.

### Which Recreational Vehicles company has the strongest 4-Factor Sector Score?

BRP Inc. ranks first at 69.6/100 with 86.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Recreational Vehicles company reports the most CAPEX?

Brunswick Corporation reports the largest latest CAPEX at $57 million, with 10 of 10 companies comparable.

### Which Recreational Vehicles company has the least gross debt?

MasterCraft Boat Holdings, Inc. has the lowest comparable gross debt at $0 million. BRP Inc. has the highest at $2,922 million.

### Which Recreational Vehicles company has the lowest comparable PEG?

BRP Inc. has the lowest comparable Guarded PEG at 0.29, among 3 of 10 companies that pass the metric’s comparability rules.

### How much history does this Recreational Vehicles comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Recreational Vehicles has underperformed S&P 500 by 1.7% over the last 52 weeks. Over 13 weeks the gap is a lead of 1.6%. 3 of 10 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. MasterCraft Boat Holdings, Inc. is the strongest against the sector itself at +13.7%.

13-week sector return versus NIFTY 500: 1.6%
52-week sector return versus NIFTY 500: -1.7%
Stocks leading NIFTY: 3/10
Stocks leading sector: 4/10

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 10
Combined market value: ₹28.9K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. BRP Inc. (DOO): 70/100 — Favorable setup; evidence 86%
   - Growth & earnings 31.7/35 | Capital efficiency 12.8/25 | Valuation 15.2/20 | Relative strength 9.9/20
   - Exact sum: 31.7 + 12.8 + 15.2 + 9.9 = 69.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. LCI Industries (LCII): 57/100 — Mixed-positive evidence; evidence 82%
   - Growth & earnings 23.4/35 | Capital efficiency 14.0/25 | Valuation 16.5/20 | Relative strength 3.0/20
   - Exact sum: 23.4 + 14 + 16.5 + 3 = 56.9
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -6.1% and the one-year return is 14%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3. MasterCraft Boat Holdings, Inc. (MCFT): 55/100 — Mixed-positive evidence; evidence 66%
   - Growth & earnings 17.9/35 | Capital efficiency 10.3/25 | Valuation 9.5/20 | Relative strength 17.0/20
   - Exact sum: 17.9 + 10.3 + 9.5 + 17 = 54.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Harley-Davidson, Inc. (HOG): 51/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 15.9/35 | Capital efficiency 10.5/25 | Valuation 11.2/20 | Relative strength 13.7/20
   - Exact sum: 15.9 + 10.5 + 11.2 + 13.7 = 51.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. THOR Industries, Inc. (THO): 46/100 — Mixed-negative evidence; evidence 86%
   - Growth & earnings 10.4/35 | Capital efficiency 14.6/25 | Valuation 15.4/20 | Relative strength 6.0/20
   - Exact sum: 10.4 + 14.6 + 15.4 + 6 = 46.4
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
6. Brunswick Corporation (BC): 44/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 14.6/35 | Capital efficiency 8.8/25 | Valuation 8.5/20 | Relative strength 12.2/20
   - Exact sum: 14.6 + 8.8 + 8.5 + 12.2 = 44.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. Polaris Inc. (PII): 43/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 16.6/35 | Capital efficiency 3.6/25 | Valuation 8.8/20 | Relative strength 14.2/20
   - Exact sum: 16.6 + 3.6 + 8.8 + 14.2 = 43.2
   - Decision use: Price leads the evidence: RS versus the benchmark is 4.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
8. Winnebago Industries, Inc. (WGO): 41/100 — Mixed-negative evidence; evidence 62%
   - Growth & earnings 13.9/35 | Capital efficiency 11.5/25 | Valuation 10.5/20 | Relative strength 5.0/20
   - Exact sum: 13.9 + 11.5 + 10.5 + 5 = 40.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9. Patrick Industries, Inc. (PATK): 41/100 — Mixed-negative evidence; evidence 72%
   - Growth & earnings 15.1/35 | Capital efficiency 13.1/25 | Valuation 9.8/20 | Relative strength 2.8/20
   - Exact sum: 15.1 + 13.1 + 9.8 + 2.8 = 40.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10. Malibu Boats, Inc. (MBUU): 37/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 10.4/35 | Capital efficiency 9.0/25 | Valuation 9.2/20 | Relative strength 8.5/20
   - Exact sum: 10.4 + 9 + 9.2 + 8.5 = 37.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: THOR Industries, Inc. is the scale leader at $9,821 million, 9.3% ahead of BRP Inc.. BRP Inc.'s growth is 16% from a $8,987 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: THOR Industries, Inc. is the scale benchmark; BRP Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: THOR Industries, Inc.'s growth falls below BRP Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: THOR Industries, Inc. · $9,821 million | 9.3% versus #2 · BRP Inc. | 3/8 recent comparable periods | 8/10 companies · 187 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. THOR Industries, Inc. (THO): ₹9.8K Cr
2. BRP Inc. (DOO): ₹9.0K Cr
3. Polaris Inc. (PII): ₹7.3K Cr
4. LCI Industries (LCII): ₹4.2K Cr
5. Patrick Industries, Inc. (PATK): ₹3.9K Cr

### Revenue growth — fastest growers
1. BRP Inc. (DOO): 16%
2. MasterCraft Boat Holdings, Inc. (MCFT): 16%
3. LCI Industries (LCII): 9.1%
4. Malibu Boats, Inc. (MBUU): 8.8%
5. Polaris Inc. (PII): 4.3%

### 20-quarter Revenue history
- BC: Sep 2021 ₹1.6K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 — | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.8K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 — | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.7K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.3K Cr | Mar 2026 — | Jun 2026 ₹1.4K Cr
- DOO: Sep 2021 ₹1.9K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 ₹2.3K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹2.4K Cr | Dec 2022 ₹2.7K Cr | Mar 2023 ₹3.1K Cr | Jun 2023 ₹2.4K Cr | Sep 2023 ₹2.8K Cr | Dec 2023 ₹2.4K Cr | Mar 2024 ₹2.6K Cr | Jun 2024 ₹2.0K Cr | Sep 2024 ₹1.8K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹2.1K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹1.9K Cr | Dec 2025 ₹2.3K Cr | Mar 2026 ₹2.5K Cr | Jun 2026 ₹2.4K Cr
- THO: Sep 2021 ₹3.6K Cr | Dec 2021 ₹4.0K Cr | Mar 2022 ₹3.9K Cr | Jun 2022 ₹4.7K Cr | Sep 2022 ₹3.8K Cr | Dec 2022 ₹3.1K Cr | Mar 2023 ₹2.3K Cr | Jun 2023 ₹2.9K Cr | Sep 2023 ₹2.7K Cr | Dec 2023 ₹2.5K Cr | Mar 2024 ₹2.2K Cr | Jun 2024 ₹2.8K Cr | Sep 2024 ₹2.5K Cr | Dec 2024 ₹2.1K Cr | Mar 2025 ₹2.0K Cr | Jun 2025 ₹2.9K Cr | Sep 2025 ₹2.5K Cr | Dec 2025 ₹2.4K Cr | Mar 2026 ₹2.1K Cr | Jun 2026 ₹2.8K Cr
- PII: Sep 2021 ₹1.8K Cr | Dec 2021 ₹2.0K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹2.1K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.4K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹2.2K Cr | Sep 2023 ₹2.2K Cr | Dec 2023 ₹2.3K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹2.0K Cr | Sep 2024 ₹1.7K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 —
- LCII: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.6K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹894 Cr | Mar 2023 ₹973 Cr | Jun 2023 ₹1.0K Cr | Sep 2023 ₹959 Cr | Dec 2023 ₹838 Cr | Mar 2024 ₹968 Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹915 Cr | Dec 2024 ₹803 Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹933 Cr | Mar 2026 ₹1.1K Cr | Jun 2026 —
- PATK: Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹952 Cr | Mar 2023 — | Jun 2023 ₹900 Cr | Sep 2023 ₹921 Cr | Dec 2023 ₹866 Cr | Mar 2024 ₹933 Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹919 Cr | Dec 2024 ₹846 Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹976 Cr | Dec 2025 ₹924 Cr | Mar 2026 ₹997 Cr | Jun 2026 —
- HOG: Sep 2021 ₹1.4K Cr | Dec 2021 ₹1.0K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹688 Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹496 Cr | Mar 2026 ₹1.2K Cr | Jun 2026 —
- WGO: Sep 2021 ₹1.0K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹952 Cr | Mar 2023 ₹867 Cr | Jun 2023 ₹901 Cr | Sep 2023 ₹771 Cr | Dec 2023 ₹763 Cr | Mar 2024 ₹704 Cr | Jun 2024 ₹786 Cr | Sep 2024 ₹721 Cr | Dec 2024 ₹626 Cr | Mar 2025 ₹620 Cr | Jun 2025 ₹775 Cr | Sep 2025 ₹777 Cr | Dec 2025 ₹703 Cr | Mar 2026 ₹657 Cr | Jun 2026 ₹699 Cr
- MCFT: Sep 2021 — | Dec 2021 ₹131 Cr | Mar 2022 ₹144 Cr | Jun 2022 ₹169 Cr | Sep 2022 — | Dec 2022 ₹170 Cr | Mar 2023 ₹159 Cr | Jun 2023 ₹167 Cr | Sep 2023 — | Dec 2023 ₹94 Cr | Mar 2024 ₹84 Cr | Jun 2024 ₹54 Cr | Sep 2024 ₹65 Cr | Dec 2024 ₹63 Cr | Mar 2025 ₹76 Cr | Jun 2025 ₹80 Cr | Sep 2025 ₹69 Cr | Dec 2025 ₹72 Cr | Mar 2026 ₹78 Cr | Jun 2026 —
- MBUU: Sep 2021 ₹253 Cr | Dec 2021 ₹264 Cr | Mar 2022 ₹344 Cr | Jun 2022 ₹353 Cr | Sep 2022 ₹302 Cr | Dec 2022 ₹339 Cr | Mar 2023 ₹375 Cr | Jun 2023 ₹372 Cr | Sep 2023 ₹256 Cr | Dec 2023 ₹211 Cr | Mar 2024 ₹203 Cr | Jun 2024 ₹159 Cr | Sep 2024 ₹172 Cr | Dec 2024 ₹200 Cr | Mar 2025 ₹229 Cr | Jun 2025 ₹207 Cr | Sep 2025 ₹195 Cr | Dec 2025 ₹189 Cr | Mar 2026 ₹236 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- BC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 18% | Dec 2022 19% | Mar 2023 — | Jun 2023 2.8% | Sep 2023 -7.3% | Dec 2023 -20% | Mar 2024 — | Jun 2024 -17% | Sep 2024 -25% | Dec 2024 -15% | Mar 2025 -10% | Jun 2025 0.2% | Sep 2025 6.8% | Dec 2025 16% | Mar 2026 — | Jun 2026 -4.8%
- DOO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 28% | Dec 2022 71% | Mar 2023 31% | Jun 2023 34% | Sep 2023 14% | Dec 2023 -12% | Mar 2024 -15% | Jun 2024 -18% | Sep 2024 -35% | Dec 2024 -17% | Mar 2025 -19% | Jun 2025 -7.7% | Sep 2025 4.3% | Dec 2025 14% | Mar 2026 16% | Jun 2026 30%
- THO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 6.4% | Dec 2022 -21% | Mar 2023 -39% | Jun 2023 -37% | Sep 2023 -28% | Dec 2023 -20% | Mar 2024 -6.0% | Jun 2024 -4.4% | Sep 2024 -7.5% | Dec 2024 -14% | Mar 2025 -8.6% | Jun 2025 3.4% | Sep 2025 -0.4% | Dec 2025 11% | Mar 2026 5.4% | Jun 2026 -3.9%
- PII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.0% | Sep 2022 32% | Dec 2022 21% | Mar 2023 22% | Jun 2023 7.5% | Sep 2023 -3.9% | Dec 2023 -4.8% | Mar 2024 -20% | Jun 2024 -12% | Sep 2024 -23% | Dec 2024 -23% | Mar 2025 -12% | Jun 2025 -5.5% | Sep 2025 7.0% | Dec 2025 9.5% | Mar 2026 8.0% | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 40% | Sep 2022 -2.8% | Dec 2022 -26% | Mar 2023 -41% | Jun 2023 -34% | Sep 2023 -15% | Dec 2023 -6.3% | Mar 2024 -0.5% | Jun 2024 3.9% | Sep 2024 -4.6% | Dec 2024 -4.2% | Mar 2025 8.1% | Jun 2025 4.9% | Sep 2025 13% | Dec 2025 16% | Mar 2026 4.3% | Jun 2026 —
- PATK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 45% | Sep 2022 4.9% | Dec 2022 -17% | Mar 2023 — | Jun 2023 -39% | Sep 2023 -17% | Dec 2023 -9.0% | Mar 2024 — | Jun 2024 13% | Sep 2024 -0.2% | Dec 2024 -2.3% | Mar 2025 7.5% | Jun 2025 3.1% | Sep 2025 6.2% | Dec 2025 9.2% | Mar 2026 -0.6% | Jun 2026 —
- HOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -4.1% | Sep 2022 21% | Dec 2022 12% | Mar 2023 20% | Jun 2023 -1.6% | Sep 2023 -6.1% | Dec 2023 -7.8% | Mar 2024 -3.3% | Jun 2024 12% | Sep 2024 -26% | Dec 2024 -35% | Mar 2025 -23% | Jun 2025 -19% | Sep 2025 17% | Dec 2025 -28% | Mar 2026 -12% | Jun 2026 —
- WGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 14% | Dec 2022 -18% | Mar 2023 -26% | Jun 2023 -38% | Sep 2023 -35% | Dec 2023 -20% | Mar 2024 -19% | Jun 2024 -13% | Sep 2024 -6.5% | Dec 2024 -18% | Mar 2025 -12% | Jun 2025 -1.4% | Sep 2025 7.8% | Dec 2025 12% | Mar 2026 6.0% | Jun 2026 -9.8%
- MCFT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.3% | Sep 2022 — | Dec 2022 30% | Mar 2023 10% | Jun 2023 -1.2% | Sep 2023 — | Dec 2023 -45% | Mar 2024 -47% | Jun 2024 -68% | Sep 2024 — | Dec 2024 -33% | Mar 2025 -9.5% | Jun 2025 48% | Sep 2025 6.2% | Dec 2025 14% | Mar 2026 2.6% | Jun 2026 —
- MBUU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 27% | Sep 2022 19% | Dec 2022 28% | Mar 2023 9.0% | Jun 2023 5.4% | Sep 2023 -15% | Dec 2023 -38% | Mar 2024 -46% | Jun 2024 -57% | Sep 2024 -33% | Dec 2024 -5.2% | Mar 2025 13% | Jun 2025 30% | Sep 2025 13% | Dec 2025 -5.5% | Mar 2026 3.1% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: BRP Inc. leads both opm at 9.4% and margin change at +4.3 percentage points.

Investor read: BRP Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: BRP Inc. · 9.4% | 8% versus #2 · LCI Industries | 2/8 recent comparable periods | 10/10 companies · 187 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. BRP Inc. (DOO): 9.4%
2. LCI Industries (LCII): 8.7%
3. Patrick Industries, Inc. (PATK): 6.5%
4. Brunswick Corporation (BC): 3.6%
5. THOR Industries, Inc. (THO): 3.5%

### Margin change — fastest expanders
1. BRP Inc. (DOO): +4.3 pp
2. LCI Industries (LCII): +0.9 pp
3. Patrick Industries, Inc. (PATK): 0.0 pp
4. Polaris Inc. (PII): 0.0 pp
5. Winnebago Industries, Inc. (WGO): −0.6 pp

### 20-quarter OPM history
- BC: Sep 2021 16% | Dec 2021 15% | Mar 2022 — | Jun 2022 14% | Sep 2022 15% | Dec 2022 14% | Mar 2023 — | Jun 2023 14% | Sep 2023 11% | Dec 2023 8.0% | Mar 2024 8.1% | Jun 2024 11% | Sep 2024 7.7% | Dec 2024 -4.8% | Mar 2025 4.6% | Jun 2025 7.1% | Sep 2025 -18% | Dec 2025 3.1% | Mar 2026 — | Jun 2026 3.6%
- DOO: Sep 2021 18% | Dec 2021 12% | Mar 2022 15% | Jun 2022 11% | Sep 2022 14% | Dec 2022 14% | Mar 2023 14% | Jun 2023 12% | Sep 2023 14% | Dec 2023 15% | Mar 2024 13% | Jun 2024 9.5% | Sep 2024 6.7% | Dec 2024 7.1% | Mar 2025 4.9% | Jun 2025 5.1% | Sep 2025 4.8% | Dec 2025 9.0% | Mar 2026 0.5% | Jun 2026 9.4%
- THO: Sep 2021 8.8% | Dec 2021 8.2% | Mar 2022 9.4% | Jun 2022 10% | Sep 2022 9.3% | Dec 2022 6.7% | Mar 2023 1.7% | Jun 2023 6.4% | Sep 2023 5.5% | Dec 2023 4.3% | Mar 2024 0.8% | Jun 2024 5.8% | Sep 2024 5.3% | Dec 2024 0.5% | Mar 2025 0.5% | Jun 2025 6.1% | Sep 2025 4.1% | Dec 2025 1.6% | Mar 2026 0.5% | Jun 2026 3.5%
- PII: Sep 2021 8.9% | Dec 2021 8.0% | Mar 2022 5.6% | Jun 2022 9.4% | Sep 2022 11% | Dec 2022 11% | Mar 2023 7.4% | Jun 2023 8.8% | Sep 2023 8.9% | Dec 2023 6.2% | Mar 2024 2.2% | Jun 2024 6.1% | Sep 2024 3.8% | Dec 2024 3.7% | Mar 2025 -2.4% | Jun 2025 -0.7% | Sep 2025 1.1% | Dec 2025 -1.7% | Mar 2026 -2.4% | Jun 2026 —
- LCII: Sep 2021 7.6% | Dec 2021 9.4% | Mar 2022 16% | Jun 2022 14% | Sep 2022 7.7% | Dec 2022 -2.6% | Mar 2023 2.1% | Jun 2023 5.4% | Sep 2023 4.8% | Dec 2023 0.3% | Mar 2024 6.0% | Jun 2024 8.6% | Sep 2024 5.9% | Dec 2024 2.0% | Mar 2025 7.8% | Jun 2025 7.9% | Sep 2025 7.3% | Dec 2025 3.8% | Mar 2026 8.7% | Jun 2026 —
- PATK: Sep 2021 8.8% | Dec 2021 8.3% | Mar 2022 12% | Jun 2022 12% | Sep 2022 8.3% | Dec 2022 7.1% | Mar 2023 — | Jun 2023 6.2% | Sep 2023 8.2% | Dec 2023 8.2% | Mar 2024 6.4% | Jun 2024 8.3% | Sep 2024 8.1% | Dec 2024 4.7% | Mar 2025 6.5% | Jun 2025 8.3% | Sep 2025 6.8% | Dec 2025 6.2% | Mar 2026 6.5% | Jun 2026 —
- HOG: Sep 2021 15% | Dec 2021 -0.7% | Mar 2022 19% | Jun 2022 19% | Sep 2022 21% | Dec 2022 0.3% | Mar 2023 21% | Jun 2023 15% | Sep 2023 14% | Dec 2023 -2.0% | Mar 2024 15% | Jun 2024 15% | Sep 2024 9.2% | Dec 2024 -28% | Mar 2025 12% | Jun 2025 8.6% | Sep 2025 35% | Dec 2025 -73% | Mar 2026 2.0% | Jun 2026 —
- WGO: Sep 2021 12% | Dec 2021 13% | Mar 2022 12% | Jun 2022 12% | Sep 2022 11% | Dec 2022 9.0% | Mar 2023 8.9% | Jun 2023 8.9% | Sep 2023 7.5% | Dec 2023 5.1% | Mar 2024 5.0% | Jun 2024 5.5% | Sep 2024 -2.5% | Dec 2024 -0.1% | Mar 2025 1.3% | Jun 2025 3.9% | Sep 2025 2.6% | Dec 2025 2.0% | Mar 2026 1.8% | Jun 2026 3.3%
- MCFT: Sep 2021 — | Dec 2021 13% | Mar 2022 16% | Jun 2022 19% | Sep 2022 — | Dec 2022 19% | Mar 2023 17% | Jun 2023 17% | Sep 2023 — | Dec 2023 11% | Mar 2024 8.0% | Jun 2024 -1.1% | Sep 2024 1.5% | Dec 2024 0.3% | Mar 2025 5.4% | Jun 2025 7.5% | Sep 2025 5.5% | Dec 2025 3.8% | Mar 2026 -1.7% | Jun 2026 —
- MBUU: Sep 2021 15% | Dec 2021 15% | Mar 2022 21% | Jun 2022 19% | Sep 2022 16% | Dec 2022 14% | Mar 2023 19% | Jun 2023 -6.1% | Sep 2023 11% | Dec 2023 7.0% | Mar 2024 -37% | Jun 2024 -15% | Sep 2024 -3.3% | Dec 2024 1.6% | Mar 2025 7.6% | Jun 2025 3.3% | Sep 2025 -0.4% | Dec 2025 -1.9% | Mar 2026 -0.8% | Jun 2026 —

### 20-quarter Margin change history
- BC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.9 pp | Dec 2022 −0.6 pp | Mar 2023 — | Jun 2023 −0.6 pp | Sep 2023 −3.8 pp | Dec 2023 −6.0 pp | Mar 2024 — | Jun 2024 −2.5 pp | Sep 2024 −3.7 pp | Dec 2024 −12.8 pp | Mar 2025 −3.5 pp | Jun 2025 −3.9 pp | Sep 2025 −25.5 pp | Dec 2025 +7.9 pp | Mar 2026 — | Jun 2026 −3.5 pp
- DOO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.6 pp | Dec 2022 +2.5 pp | Mar 2023 −0.6 pp | Jun 2023 +0.6 pp | Sep 2023 −0.6 pp | Dec 2023 +0.9 pp | Mar 2024 −1.6 pp | Jun 2024 −2.1 pp | Sep 2024 −6.9 pp | Dec 2024 −8.0 pp | Mar 2025 −7.7 pp | Jun 2025 −4.4 pp | Sep 2025 −1.9 pp | Dec 2025 +1.9 pp | Mar 2026 −4.4 pp | Jun 2026 +4.3 pp
- THO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.5 pp | Dec 2022 −1.5 pp | Mar 2023 −7.7 pp | Jun 2023 −4.0 pp | Sep 2023 −3.8 pp | Dec 2023 −2.4 pp | Mar 2024 −0.9 pp | Jun 2024 −0.6 pp | Sep 2024 −0.2 pp | Dec 2024 −3.8 pp | Mar 2025 −0.3 pp | Jun 2025 +0.3 pp | Sep 2025 −1.2 pp | Dec 2025 +1.1 pp | Mar 2026 0.0 pp | Jun 2026 −2.6 pp
- PII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.6 pp | Sep 2022 +2.0 pp | Dec 2022 +2.7 pp | Mar 2023 +1.8 pp | Jun 2023 −0.6 pp | Sep 2023 −2.0 pp | Dec 2023 −4.5 pp | Mar 2024 −5.2 pp | Jun 2024 −2.7 pp | Sep 2024 −5.1 pp | Dec 2024 −2.5 pp | Mar 2025 −4.6 pp | Jun 2025 −6.8 pp | Sep 2025 −2.7 pp | Dec 2025 −5.4 pp | Mar 2026 0.0 pp | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +5.6 pp | Sep 2022 +0.1 pp | Dec 2022 −12.0 pp | Mar 2023 −14.3 pp | Jun 2023 −8.8 pp | Sep 2023 −2.9 pp | Dec 2023 +2.9 pp | Mar 2024 +3.9 pp | Jun 2024 +3.2 pp | Sep 2024 +1.1 pp | Dec 2024 +1.7 pp | Mar 2025 +1.8 pp | Jun 2025 −0.7 pp | Sep 2025 +1.4 pp | Dec 2025 +1.8 pp | Mar 2026 +0.9 pp | Jun 2026 —
- PATK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +2.5 pp | Sep 2022 −0.5 pp | Dec 2022 −1.2 pp | Mar 2023 — | Jun 2023 −5.6 pp | Sep 2023 −0.1 pp | Dec 2023 +1.1 pp | Mar 2024 — | Jun 2024 +2.1 pp | Sep 2024 −0.1 pp | Dec 2024 −3.5 pp | Mar 2025 +0.1 pp | Jun 2025 0.0 pp | Sep 2025 −1.3 pp | Dec 2025 +1.5 pp | Mar 2026 0.0 pp | Jun 2026 —
- HOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.6 pp | Sep 2022 +5.5 pp | Dec 2022 +1.0 pp | Mar 2023 +1.4 pp | Jun 2023 −3.6 pp | Sep 2023 −7.0 pp | Dec 2023 −2.3 pp | Mar 2024 −5.5 pp | Jun 2024 −0.4 pp | Sep 2024 −4.3 pp | Dec 2024 −26.1 pp | Mar 2025 −3.1 pp | Jun 2025 −6.3 pp | Sep 2025 +26.2 pp | Dec 2025 −44.7 pp | Mar 2026 −10.1 pp | Jun 2026 —
- WGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.1 pp | Dec 2022 −3.7 pp | Mar 2023 −2.8 pp | Jun 2023 −3.2 pp | Sep 2023 −3.0 pp | Dec 2023 −3.9 pp | Mar 2024 −3.9 pp | Jun 2024 −3.4 pp | Sep 2024 −10.0 pp | Dec 2024 −5.2 pp | Mar 2025 −3.7 pp | Jun 2025 −1.6 pp | Sep 2025 +5.1 pp | Dec 2025 +2.1 pp | Mar 2026 +0.5 pp | Jun 2026 −0.6 pp
- MCFT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.9 pp | Sep 2022 — | Dec 2022 +6.5 pp | Mar 2023 +0.2 pp | Jun 2023 −1.3 pp | Sep 2023 — | Dec 2023 −7.8 pp | Mar 2024 −8.6 pp | Jun 2024 −18.5 pp | Sep 2024 — | Dec 2024 −10.9 pp | Mar 2025 −2.6 pp | Jun 2025 +8.6 pp | Sep 2025 +4.0 pp | Dec 2025 +3.5 pp | Mar 2026 −7.1 pp | Jun 2026 —
- MBUU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +2.2 pp | Sep 2022 +1.5 pp | Dec 2022 −0.8 pp | Mar 2023 −2.1 pp | Jun 2023 −24.6 pp | Sep 2023 −4.8 pp | Dec 2023 −7.4 pp | Mar 2024 −55.5 pp | Jun 2024 −9.3 pp | Sep 2024 −14.5 pp | Dec 2024 −5.4 pp | Mar 2025 +44.4 pp | Jun 2025 +18.7 pp | Sep 2025 +2.9 pp | Dec 2025 −3.5 pp | Mar 2026 −8.4 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: BRP Inc. leads with $307 million of TTM profit, 17.6% above THOR Industries, Inc.. MasterCraft Boat Holdings, Inc. shows ≥100% on the scoring scale growth from a $10 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: BRP Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: BRP Inc. · $307 million | 17.6% versus #2 · THOR Industries, Inc. | 3/8 recent comparable periods | 8/10 companies · 187 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. BRP Inc. (DOO): ₹307 Cr
2. THOR Industries, Inc. (THO): ₹261 Cr
3. LCI Industries (LCII): ₹202 Cr
4. Patrick Industries, Inc. (PATK): ₹135 Cr
5. Winnebago Industries, Inc. (WGO): ₹40 Cr

### Profit growth — fastest growers
1. MasterCraft Boat Holdings, Inc. (MCFT): 100%
2. BRP Inc. (DOO): 68%
3. LCI Industries (LCII): 30%
4. THOR Industries, Inc. (THO): 18%
5. Patrick Industries, Inc. (PATK): -4.9%

### 20-quarter Net profit history
- BC: Sep 2021 ₹179 Cr | Dec 2021 ₹145 Cr | Mar 2022 — | Jun 2022 ₹174 Cr | Sep 2022 ₹199 Cr | Dec 2022 ₹168 Cr | Mar 2023 — | Jun 2023 ₹112 Cr | Sep 2023 ₹135 Cr | Dec 2023 ₹71 Cr | Mar 2024 ₹68 Cr | Jun 2024 ₹105 Cr | Sep 2024 ₹47 Cr | Dec 2024 ₹-71 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹60 Cr | Sep 2025 ₹-234 Cr | Dec 2025 ₹19 Cr | Mar 2026 — | Jun 2026 ₹21 Cr
- DOO: Sep 2021 ₹213 Cr | Dec 2021 ₹128 Cr | Mar 2022 ₹210 Cr | Jun 2022 ₹121 Cr | Sep 2022 ₹238 Cr | Dec 2022 ₹142 Cr | Mar 2023 ₹365 Cr | Jun 2023 ₹155 Cr | Sep 2023 ₹339 Cr | Dec 2023 ₹90 Cr | Mar 2024 ₹303 Cr | Jun 2024 ₹43 Cr | Sep 2024 ₹42 Cr | Dec 2024 ₹31 Cr | Mar 2025 ₹-51 Cr | Jun 2025 ₹161 Cr | Sep 2025 ₹57 Cr | Dec 2025 ₹77 Cr | Mar 2026 ₹46 Cr | Jun 2026 ₹127 Cr
- THO: Sep 2021 ₹250 Cr | Dec 2021 ₹245 Cr | Mar 2022 ₹266 Cr | Jun 2022 ₹346 Cr | Sep 2022 ₹282 Cr | Dec 2022 ₹137 Cr | Mar 2023 ₹26 Cr | Jun 2023 ₹120 Cr | Sep 2023 ₹91 Cr | Dec 2023 ₹55 Cr | Mar 2024 ₹5 Cr | Jun 2024 ₹114 Cr | Sep 2024 ₹91 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹134 Cr | Sep 2025 ₹127 Cr | Dec 2025 ₹23 Cr | Mar 2026 ₹15 Cr | Jun 2026 ₹96 Cr
- PII: Sep 2021 ₹117 Cr | Dec 2021 ₹128 Cr | Mar 2022 ₹74 Cr | Jun 2022 ₹142 Cr | Sep 2022 ₹191 Cr | Dec 2022 ₹197 Cr | Mar 2023 ₹114 Cr | Jun 2023 ₹134 Cr | Sep 2023 ₹152 Cr | Dec 2023 ₹103 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹69 Cr | Sep 2024 ₹28 Cr | Dec 2024 ₹11 Cr | Mar 2025 ₹-67 Cr | Jun 2025 ₹-79 Cr | Sep 2025 ₹-16 Cr | Dec 2025 ₹-15 Cr | Mar 2026 ₹-47 Cr | Jun 2026 —
- LCII: Sep 2021 ₹63 Cr | Dec 2021 ₹82 Cr | Mar 2022 ₹196 Cr | Jun 2022 ₹155 Cr | Sep 2022 ₹61 Cr | Dec 2022 ₹-17 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹37 Cr | Jun 2024 ₹61 Cr | Sep 2024 ₹36 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹49 Cr | Jun 2025 ₹58 Cr | Sep 2025 ₹62 Cr | Dec 2025 ₹19 Cr | Mar 2026 ₹63 Cr | Jun 2026 —
- PATK: Sep 2021 ₹57 Cr | Dec 2021 ₹61 Cr | Mar 2022 ₹113 Cr | Jun 2022 ₹117 Cr | Sep 2022 ₹59 Cr | Dec 2022 ₹40 Cr | Mar 2023 — | Jun 2023 ₹30 Cr | Sep 2023 ₹42 Cr | Dec 2023 ₹40 Cr | Mar 2024 ₹35 Cr | Jun 2024 ₹48 Cr | Sep 2024 ₹41 Cr | Dec 2024 ₹15 Cr | Mar 2025 ₹38 Cr | Jun 2025 ₹32 Cr | Sep 2025 ₹35 Cr | Dec 2025 ₹29 Cr | Mar 2026 ₹39 Cr | Jun 2026 —
- HOG: Sep 2021 ₹163 Cr | Dec 2021 ₹22 Cr | Mar 2022 ₹223 Cr | Jun 2022 ₹216 Cr | Sep 2022 ₹261 Cr | Dec 2022 ₹40 Cr | Mar 2023 ₹302 Cr | Jun 2023 ₹174 Cr | Sep 2023 ₹196 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹232 Cr | Jun 2024 ₹215 Cr | Sep 2024 ₹116 Cr | Dec 2024 ₹-118 Cr | Mar 2025 ₹131 Cr | Jun 2025 ₹106 Cr | Sep 2025 ₹375 Cr | Dec 2025 ₹-283 Cr | Mar 2026 ₹24 Cr | Jun 2026 —
- WGO: Sep 2021 ₹84 Cr | Dec 2021 ₹100 Cr | Mar 2022 ₹91 Cr | Jun 2022 ₹117 Cr | Sep 2022 ₹83 Cr | Dec 2022 ₹60 Cr | Mar 2023 ₹53 Cr | Jun 2023 ₹59 Cr | Sep 2023 ₹44 Cr | Dec 2023 ₹26 Cr | Mar 2024 ₹-13 Cr | Jun 2024 ₹29 Cr | Sep 2024 ₹-29 Cr | Dec 2024 ₹-5 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹14 Cr | Dec 2025 ₹6 Cr | Mar 2026 ₹5 Cr | Jun 2026 ₹15 Cr
- MCFT: Sep 2021 — | Dec 2021 ₹12 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹24 Cr | Sep 2022 — | Dec 2022 ₹25 Cr | Mar 2023 ₹20 Cr | Jun 2023 ₹23 Cr | Sep 2023 — | Dec 2023 ₹9 Cr | Mar 2024 ₹6 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹-1 Cr | Jun 2026 —
- MBUU: Sep 2021 ₹28 Cr | Dec 2021 ₹31 Cr | Mar 2022 ₹55 Cr | Jun 2022 ₹50 Cr | Sep 2022 ₹36 Cr | Dec 2022 ₹36 Cr | Mar 2023 ₹53 Cr | Jun 2023 ₹-18 Cr | Sep 2023 ₹21 Cr | Dec 2023 ₹10 Cr | Mar 2024 ₹-68 Cr | Jun 2024 ₹-20 Cr | Sep 2024 ₹-5 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹13 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹-1 Cr | Dec 2025 ₹-3 Cr | Mar 2026 ₹-2 Cr | Jun 2026 —

### 20-quarter Profit growth history
- BC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 11% | Dec 2022 16% | Mar 2023 — | Jun 2023 -36% | Sep 2023 -32% | Dec 2023 -58% | Mar 2024 — | Jun 2024 -6.3% | Sep 2024 -65% | Dec 2024 -200% | Mar 2025 -71% | Jun 2025 -43% | Sep 2025 -598% | Dec 2025 — | Mar 2026 — | Jun 2026 -65%
- DOO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 12% | Dec 2022 11% | Mar 2023 74% | Jun 2023 28% | Sep 2023 42% | Dec 2023 -37% | Mar 2024 -17% | Jun 2024 -72% | Sep 2024 -88% | Dec 2024 -66% | Mar 2025 -117% | Jun 2025 274% | Sep 2025 36% | Dec 2025 148% | Mar 2026 — | Jun 2026 -21%
- THO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 13% | Dec 2022 -44% | Mar 2023 -90% | Jun 2023 -65% | Sep 2023 -68% | Dec 2023 -60% | Mar 2024 -81% | Jun 2024 -5.0% | Sep 2024 0.0% | Dec 2024 -102% | Mar 2025 -160% | Jun 2025 18% | Sep 2025 40% | Dec 2025 — | Mar 2026 — | Jun 2026 -28%
- PII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -8.4% | Sep 2022 63% | Dec 2022 54% | Mar 2023 54% | Jun 2023 -5.6% | Sep 2023 -20% | Dec 2023 -48% | Mar 2024 -96% | Jun 2024 -49% | Sep 2024 -82% | Dec 2024 -89% | Mar 2025 -1,775% | Jun 2025 -214% | Sep 2025 -157% | Dec 2025 -236% | Mar 2026 — | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 128% | Sep 2022 -3.2% | Dec 2022 -121% | Mar 2023 -96% | Jun 2023 -79% | Sep 2023 -57% | Dec 2023 — | Mar 2024 429% | Jun 2024 85% | Sep 2024 38% | Dec 2024 — | Mar 2025 32% | Jun 2025 -4.9% | Sep 2025 72% | Dec 2025 90% | Mar 2026 29% | Jun 2026 —
- PATK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 98% | Sep 2022 3.5% | Dec 2022 -34% | Mar 2023 — | Jun 2023 -74% | Sep 2023 -29% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 60% | Sep 2024 -2.4% | Dec 2024 -63% | Mar 2025 8.6% | Jun 2025 -33% | Sep 2025 -15% | Dec 2025 93% | Mar 2026 2.6% | Jun 2026 —
- HOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 4.9% | Sep 2022 60% | Dec 2022 82% | Mar 2023 35% | Jun 2023 -19% | Sep 2023 -25% | Dec 2023 -43% | Mar 2024 -23% | Jun 2024 24% | Sep 2024 -41% | Dec 2024 -613% | Mar 2025 -44% | Jun 2025 -51% | Sep 2025 223% | Dec 2025 — | Mar 2026 -82% | Jun 2026 —
- WGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -1.2% | Dec 2022 -40% | Mar 2023 -42% | Jun 2023 -50% | Sep 2023 -47% | Dec 2023 -57% | Mar 2024 -125% | Jun 2024 -51% | Sep 2024 -166% | Dec 2024 -119% | Mar 2025 — | Jun 2025 -38% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 -17%
- MCFT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 50% | Sep 2022 — | Dec 2022 108% | Mar 2023 11% | Jun 2023 -4.2% | Sep 2023 — | Dec 2023 -64% | Mar 2024 -70% | Jun 2024 -100% | Sep 2024 — | Dec 2024 -100% | Mar 2025 -33% | Jun 2025 — | Sep 2025 300% | Dec 2025 — | Mar 2026 -125% | Jun 2026 —
- MBUU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 43% | Sep 2022 29% | Dec 2022 16% | Mar 2023 -3.6% | Jun 2023 -136% | Sep 2023 -42% | Dec 2023 -72% | Mar 2024 -228% | Jun 2024 — | Sep 2024 -124% | Dec 2024 -80% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 -250% | Mar 2026 -115% | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: Brunswick Corporation reports $57 million of CAPEX; Brunswick Corporation has the highest covered intensity at 4.1%. Coverage is only 10 of 10 companies and 183 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Brunswick Corporation · $57 million | 23.9% versus #2 · BRP Inc. | 8/8 recent comparable periods | 10/10 companies · 183 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Brunswick Corporation (BC): ₹57 Cr
2. BRP Inc. (DOO): ₹46 Cr
3. THOR Industries, Inc. (THO): ₹38 Cr
4. Polaris Inc. (PII): ₹30 Cr
5. Patrick Industries, Inc. (PATK): ₹19 Cr

### CAPEX intensity — highest reinvestment intensity
1. Brunswick Corporation (BC): 4.1%
2. Harley-Davidson, Inc. (HOG): 2.7%
3. Malibu Boats, Inc. (MBUU): 2.5%
4. BRP Inc. (DOO): 1.9%
5. Patrick Industries, Inc. (PATK): 1.9%

### 20-quarter CAPEX history
- BC: Sep 2021 ₹67 Cr | Dec 2021 ₹70 Cr | Mar 2022 — | Jun 2022 ₹101 Cr | Sep 2022 ₹96 Cr | Dec 2022 ₹103 Cr | Mar 2023 — | Jun 2023 ₹94 Cr | Sep 2023 ₹80 Cr | Dec 2023 ₹56 Cr | Mar 2024 ₹54 Cr | Jun 2024 ₹47 Cr | Sep 2024 ₹36 Cr | Dec 2024 ₹30 Cr | Mar 2025 ₹38 Cr | Jun 2025 ₹45 Cr | Sep 2025 ₹34 Cr | Dec 2025 ₹49 Cr | Mar 2026 — | Jun 2026 ₹57 Cr
- DOO: Sep 2021 ₹123 Cr | Dec 2021 ₹112 Cr | Mar 2022 ₹309 Cr | Jun 2022 ₹93 Cr | Sep 2022 ₹100 Cr | Dec 2022 ₹161 Cr | Mar 2023 ₹248 Cr | Jun 2023 ₹111 Cr | Sep 2023 ₹94 Cr | Dec 2023 ₹128 Cr | Mar 2024 ₹215 Cr | Jun 2024 ₹67 Cr | Sep 2024 ₹99 Cr | Dec 2024 ₹114 Cr | Mar 2025 ₹118 Cr | Jun 2025 ₹45 Cr | Sep 2025 ₹70 Cr | Dec 2025 ₹72 Cr | Mar 2026 ₹110 Cr | Jun 2026 ₹46 Cr
- THO: Sep 2021 ₹129 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹242 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹208 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹140 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹123 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹60 Cr | Jun 2026 ₹38 Cr
- PII: Sep 2021 ₹80 Cr | Dec 2021 ₹94 Cr | Mar 2022 ₹56 Cr | Jun 2022 ₹64 Cr | Sep 2022 ₹74 Cr | Dec 2022 ₹113 Cr | Mar 2023 ₹94 Cr | Jun 2023 ₹112 Cr | Sep 2023 ₹106 Cr | Dec 2023 ₹101 Cr | Mar 2024 ₹72 Cr | Jun 2024 ₹67 Cr | Sep 2024 ₹53 Cr | Dec 2024 ₹69 Cr | Mar 2025 ₹36 Cr | Jun 2025 ₹41 Cr | Sep 2025 ₹42 Cr | Dec 2025 ₹65 Cr | Mar 2026 ₹30 Cr | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 ₹25 Cr | Mar 2022 ₹42 Cr | Jun 2022 ₹29 Cr | Sep 2022 — | Dec 2022 ₹27 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹17 Cr | Sep 2023 — | Dec 2023 ₹12 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹13 Cr | Sep 2024 — | Dec 2024 ₹11 Cr | Mar 2025 ₹9 Cr | Jun 2025 ₹13 Cr | Sep 2025 — | Dec 2025 ₹15 Cr | Mar 2026 ₹10 Cr | Jun 2026 —
- PATK: Sep 2021 ₹18 Cr | Dec 2021 ₹21 Cr | Mar 2022 ₹19 Cr | Jun 2022 ₹26 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹16 Cr | Mar 2023 — | Jun 2023 ₹20 Cr | Sep 2023 ₹16 Cr | Dec 2023 ₹11 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹17 Cr | Sep 2024 ₹18 Cr | Dec 2024 ₹25 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹18 Cr | Mar 2026 ₹19 Cr | Jun 2026 —
- HOG: Sep 2021 ₹24 Cr | Dec 2021 ₹59 Cr | Mar 2022 ₹28 Cr | Jun 2022 ₹27 Cr | Sep 2022 ₹30 Cr | Dec 2022 ₹67 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹41 Cr | Sep 2023 ₹52 Cr | Dec 2023 ₹69 Cr | Mar 2024 ₹46 Cr | Jun 2024 ₹41 Cr | Sep 2024 ₹53 Cr | Dec 2024 ₹56 Cr | Mar 2025 ₹30 Cr | Jun 2025 ₹36 Cr | Sep 2025 ₹37 Cr | Dec 2025 ₹52 Cr | Mar 2026 ₹32 Cr | Jun 2026 ₹13 Cr
- WGO: Sep 2021 ₹21 Cr | Dec 2021 ₹23 Cr | Mar 2022 ₹20 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹25 Cr | Dec 2022 ₹28 Cr | Mar 2023 ₹22 Cr | Jun 2023 ₹19 Cr | Sep 2023 ₹15 Cr | Dec 2023 ₹12 Cr | Mar 2024 ₹11 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹11 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹8 Cr | Jun 2025 ₹11 Cr | Sep 2025 ₹10 Cr | Dec 2025 ₹6 Cr | Mar 2026 ₹4 Cr | Jun 2026 ₹7 Cr
- MCFT: Sep 2021 — | Dec 2021 ₹3 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹3 Cr | Sep 2022 — | Dec 2022 ₹6 Cr | Mar 2023 ₹6 Cr | Jun 2023 ₹7 Cr | Sep 2023 — | Dec 2023 ₹3 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹1 Cr | Jun 2026 —
- MBUU: Sep 2021 ₹14 Cr | Dec 2021 ₹12 Cr | Mar 2022 ₹14 Cr | Jun 2022 ₹15 Cr | Sep 2022 ₹12 Cr | Dec 2022 ₹10 Cr | Mar 2023 ₹21 Cr | Jun 2023 ₹11 Cr | Sep 2023 ₹40 Cr | Dec 2023 ₹13 Cr | Mar 2024 ₹12 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹9 Cr | Dec 2024 ₹6 Cr | Mar 2025 ₹7 Cr | Jun 2025 ₹7 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹6 Cr | Jun 2026 —

### 20-quarter CAPEX intensity history
- BC: Sep 2021 4.3% | Dec 2021 4.9% | Mar 2022 — | Jun 2022 6.0% | Sep 2022 5.2% | Dec 2022 6.1% | Mar 2023 — | Jun 2023 5.4% | Sep 2023 4.7% | Dec 2023 4.1% | Mar 2024 4.0% | Jun 2024 3.3% | Sep 2024 2.8% | Dec 2024 2.6% | Mar 2025 3.1% | Jun 2025 3.1% | Sep 2025 2.5% | Dec 2025 3.7% | Mar 2026 — | Jun 2026 4.1%
- DOO: Sep 2021 6.5% | Dec 2021 7.1% | Mar 2022 13% | Jun 2022 5.1% | Sep 2022 4.1% | Dec 2022 5.9% | Mar 2023 8.1% | Jun 2023 4.6% | Sep 2023 3.4% | Dec 2023 5.4% | Mar 2024 8.2% | Jun 2024 3.4% | Sep 2024 5.5% | Dec 2024 5.8% | Mar 2025 5.6% | Jun 2025 2.4% | Sep 2025 3.7% | Dec 2025 3.2% | Mar 2026 4.5% | Jun 2026 1.9%
- THO: Sep 2021 3.6% | Dec 2021 0.0% | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 6.3% | Dec 2022 0.0% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 7.6% | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 5.5% | Dec 2024 0.0% | Mar 2025 0.0% | Jun 2025 1.2% | Sep 2025 4.9% | Dec 2025 0.0% | Mar 2026 2.8% | Jun 2026 1.4%
- PII: Sep 2021 4.5% | Dec 2021 4.7% | Mar 2022 3.1% | Jun 2022 3.1% | Sep 2022 3.2% | Dec 2022 4.7% | Mar 2023 4.3% | Jun 2023 5.1% | Sep 2023 4.7% | Dec 2023 4.4% | Mar 2024 4.1% | Jun 2024 3.4% | Sep 2024 3.1% | Dec 2024 3.9% | Mar 2025 2.3% | Jun 2025 2.2% | Sep 2025 2.3% | Dec 2025 3.4% | Mar 2026 1.8% | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 2.1% | Mar 2022 2.6% | Jun 2022 1.9% | Sep 2022 — | Dec 2022 3.0% | Mar 2023 1.7% | Jun 2023 1.7% | Sep 2023 — | Dec 2023 1.4% | Mar 2024 0.9% | Jun 2024 1.2% | Sep 2024 — | Dec 2024 1.4% | Mar 2025 0.9% | Jun 2025 1.2% | Sep 2025 — | Dec 2025 1.6% | Mar 2026 0.9% | Jun 2026 —
- PATK: Sep 2021 1.7% | Dec 2021 1.8% | Mar 2022 1.4% | Jun 2022 1.8% | Sep 2022 1.7% | Dec 2022 1.7% | Mar 2023 — | Jun 2023 2.2% | Sep 2023 1.7% | Dec 2023 1.3% | Mar 2024 1.6% | Jun 2024 1.7% | Sep 2024 2.0% | Dec 2024 3.0% | Mar 2025 2.0% | Jun 2025 1.7% | Sep 2025 2.7% | Dec 2025 1.9% | Mar 2026 1.9% | Jun 2026 —
- HOG: Sep 2021 1.8% | Dec 2021 5.8% | Mar 2022 1.9% | Jun 2022 1.8% | Sep 2022 1.8% | Dec 2022 5.9% | Mar 2023 2.5% | Jun 2023 2.8% | Sep 2023 3.4% | Dec 2023 6.6% | Mar 2024 2.7% | Jun 2024 2.5% | Sep 2024 4.6% | Dec 2024 8.1% | Mar 2025 2.3% | Jun 2025 2.8% | Sep 2025 2.8% | Dec 2025 11% | Mar 2026 2.7% | Jun 2026 —
- WGO: Sep 2021 2.0% | Dec 2021 2.0% | Mar 2022 1.7% | Jun 2022 1.4% | Sep 2022 2.1% | Dec 2022 2.9% | Mar 2023 2.5% | Jun 2023 2.1% | Sep 2023 1.9% | Dec 2023 1.6% | Mar 2024 1.6% | Jun 2024 1.4% | Sep 2024 1.5% | Dec 2024 1.6% | Mar 2025 1.3% | Jun 2025 1.4% | Sep 2025 1.3% | Dec 2025 0.9% | Mar 2026 0.6% | Jun 2026 1.0%
- MCFT: Sep 2021 — | Dec 2021 2.3% | Mar 2022 1.4% | Jun 2022 1.8% | Sep 2022 — | Dec 2022 3.5% | Mar 2023 3.8% | Jun 2023 4.2% | Sep 2023 — | Dec 2023 3.2% | Mar 2024 3.6% | Jun 2024 5.6% | Sep 2024 3.1% | Dec 2024 3.2% | Mar 2025 2.6% | Jun 2025 3.8% | Sep 2025 4.3% | Dec 2025 2.8% | Mar 2026 1.3% | Jun 2026 —
- MBUU: Sep 2021 5.5% | Dec 2021 4.5% | Mar 2022 4.1% | Jun 2022 4.2% | Sep 2022 4.0% | Dec 2022 2.9% | Mar 2023 5.6% | Jun 2023 3.0% | Sep 2023 16% | Dec 2023 6.2% | Mar 2024 5.9% | Jun 2024 7.5% | Sep 2024 5.2% | Dec 2024 3.0% | Mar 2025 3.1% | Jun 2025 3.4% | Sep 2025 2.1% | Dec 2025 2.1% | Mar 2026 2.5% | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: MasterCraft Boat Holdings, Inc. has the clearest covered balance-sheet capacity with $85 million net cash and gross debt of $0 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: MasterCraft Boat Holdings, Inc. · $0 million | 100% versus #2 · Malibu Boats, Inc. | 8/8 recent comparable periods | 10/10 companies · 188 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. MasterCraft Boat Holdings, Inc. (MCFT): ₹0 Cr
2. Malibu Boats, Inc. (MBUU): ₹165 Cr
3. Winnebago Industries, Inc. (WGO): ₹477 Cr
4. THOR Industries, Inc. (THO): ₹942 Cr
5. LCI Industries (LCII): ₹1.2K Cr

### Net debt — lowest net debt
1. MasterCraft Boat Holdings, Inc. (MCFT): ₹-85 Cr
2. Malibu Boats, Inc. (MBUU): ₹115 Cr
3. Winnebago Industries, Inc. (WGO): ₹420 Cr
4. THOR Industries, Inc. (THO): ₹570 Cr
5. Harley-Davidson, Inc. (HOG): ₹613 Cr

### 20-quarter Gross debt history
- BC: Sep 2021 ₹945 Cr | Dec 2021 ₹1.9K Cr | Mar 2022 — | Jun 2022 ₹2.6K Cr | Sep 2022 ₹2.6K Cr | Dec 2022 ₹2.6K Cr | Mar 2023 — | Jun 2023 ₹2.6K Cr | Sep 2023 ₹2.6K Cr | Dec 2023 ₹2.6K Cr | Mar 2024 ₹3.0K Cr | Jun 2024 ₹3.0K Cr | Sep 2024 ₹2.7K Cr | Dec 2024 ₹2.5K Cr | Mar 2025 ₹2.6K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹2.3K Cr | Mar 2026 — | Jun 2026 ₹2.4K Cr
- DOO: Sep 2021 ₹2.3K Cr | Dec 2021 ₹2.3K Cr | Mar 2022 ₹2.2K Cr | Jun 2022 ₹2.5K Cr | Sep 2022 ₹2.6K Cr | Dec 2022 ₹2.9K Cr | Mar 2023 ₹3.0K Cr | Jun 2023 ₹3.1K Cr | Sep 2023 ₹3.0K Cr | Dec 2023 ₹3.1K Cr | Mar 2024 ₹3.0K Cr | Jun 2024 ₹3.0K Cr | Sep 2024 ₹3.0K Cr | Dec 2024 ₹3.0K Cr | Mar 2025 ₹3.1K Cr | Jun 2025 ₹3.0K Cr | Sep 2025 ₹3.0K Cr | Dec 2025 ₹2.8K Cr | Mar 2026 ₹2.7K Cr | Jun 2026 ₹2.9K Cr
- THO: Sep 2021 ₹1.6K Cr | Dec 2021 ₹2.3K Cr | Mar 2022 ₹2.2K Cr | Jun 2022 ₹2.0K Cr | Sep 2022 ₹1.8K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹983 Cr | Dec 2025 ₹980 Cr | Mar 2026 ₹950 Cr | Jun 2026 ₹942 Cr
- PII: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.9K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹2.1K Cr | Sep 2022 ₹2.2K Cr | Dec 2022 ₹2.1K Cr | Mar 2023 ₹2.1K Cr | Jun 2023 ₹2.1K Cr | Sep 2023 ₹2.2K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹2.1K Cr | Sep 2024 ₹2.2K Cr | Dec 2024 ₹2.1K Cr | Mar 2025 ₹2.1K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹1.7K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹2.1K Cr | Jun 2026 —
- LCII: Sep 2021 ₹1.3K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹996 Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 —
- PATK: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.7K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 — | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.5K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 —
- HOG: Sep 2021 ₹7.4K Cr | Dec 2021 ₹7.0K Cr | Mar 2022 ₹6.7K Cr | Jun 2022 ₹7.9K Cr | Sep 2022 ₹7.3K Cr | Dec 2022 ₹7.0K Cr | Mar 2023 ₹7.4K Cr | Jun 2023 ₹7.3K Cr | Sep 2023 ₹7.6K Cr | Dec 2023 ₹7.4K Cr | Mar 2024 ₹7.5K Cr | Jun 2024 ₹7.7K Cr | Sep 2024 ₹8.0K Cr | Dec 2024 ₹7.2K Cr | Mar 2025 ₹7.5K Cr | Jun 2025 ₹7.2K Cr | Sep 2025 ₹5.5K Cr | Dec 2025 ₹3.3K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 ₹2.5K Cr
- WGO: Sep 2021 ₹555 Cr | Dec 2021 ₹559 Cr | Mar 2022 ₹579 Cr | Jun 2022 ₹583 Cr | Sep 2022 ₹586 Cr | Dec 2022 ₹630 Cr | Mar 2023 ₹633 Cr | Jun 2023 ₹633 Cr | Sep 2023 ₹634 Cr | Dec 2023 ₹634 Cr | Mar 2024 ₹734 Cr | Jun 2024 ₹743 Cr | Sep 2024 ₹742 Cr | Dec 2024 ₹742 Cr | Mar 2025 ₹642 Cr | Jun 2025 ₹581 Cr | Sep 2025 ₹580 Cr | Dec 2025 ₹579 Cr | Mar 2026 ₹478 Cr | Jun 2026 ₹477 Cr
- MCFT: Sep 2021 — | Dec 2021 ₹84 Cr | Mar 2022 ₹74 Cr | Jun 2022 ₹65 Cr | Sep 2022 — | Dec 2022 ₹56 Cr | Mar 2023 ₹55 Cr | Jun 2023 ₹54 Cr | Sep 2023 — | Dec 2023 ₹53 Cr | Mar 2024 ₹50 Cr | Jun 2024 ₹49 Cr | Sep 2024 ₹50 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr | Jun 2026 —
- MBUU: Sep 2021 ₹123 Cr | Dec 2021 ₹123 Cr | Mar 2022 ₹120 Cr | Jun 2022 ₹120 Cr | Sep 2022 ₹70 Cr | Dec 2022 ₹70 Cr | Mar 2023 ₹20 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹65 Cr | Dec 2023 ₹35 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹28 Cr | Dec 2024 ₹23 Cr | Mar 2025 ₹28 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹20 Cr | Mar 2026 ₹165 Cr | Jun 2026 —

### 20-quarter Net debt history
- BC: Sep 2021 ₹354 Cr | Dec 2021 ₹412 Cr | Mar 2022 — | Jun 2022 ₹1.9K Cr | Sep 2022 ₹2.0K Cr | Dec 2022 ₹2.1K Cr | Mar 2023 — | Jun 2023 ₹2.2K Cr | Sep 2023 ₹2.1K Cr | Dec 2023 ₹2.1K Cr | Mar 2024 ₹2.4K Cr | Jun 2024 ₹2.4K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹2.2K Cr | Mar 2025 ₹2.3K Cr | Jun 2025 ₹2.1K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.0K Cr | Mar 2026 — | Jun 2026 ₹2.2K Cr
- DOO: Sep 2021 ₹1.9K Cr | Dec 2021 ₹2.3K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹2.5K Cr | Sep 2022 ₹2.5K Cr | Dec 2022 ₹2.8K Cr | Mar 2023 ₹2.8K Cr | Jun 2023 ₹2.8K Cr | Sep 2023 ₹2.6K Cr | Dec 2023 ₹2.8K Cr | Mar 2024 ₹2.5K Cr | Jun 2024 ₹2.6K Cr | Sep 2024 ₹2.9K Cr | Dec 2024 ₹2.9K Cr | Mar 2025 ₹2.9K Cr | Jun 2025 ₹2.7K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹2.5K Cr | Mar 2026 ₹2.3K Cr | Jun 2026 ₹2.2K Cr
- THO: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.9K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹911 Cr | Dec 2023 ₹916 Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹941 Cr | Sep 2024 ₹705 Cr | Dec 2024 ₹701 Cr | Mar 2025 ₹720 Cr | Jun 2025 ₹575 Cr | Sep 2025 ₹396 Cr | Dec 2025 ₹470 Cr | Mar 2026 ₹708 Cr | Jun 2026 ₹570 Cr
- PII: Sep 2021 ₹1.4K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.8K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 —
- LCII: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.0K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹953 Cr | Sep 2024 ₹909 Cr | Dec 2024 ₹830 Cr | Mar 2025 ₹945 Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹-200 Cr | Dec 2025 ₹1.0K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 —
- PATK: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.6K Cr | Jun 2022 ₹1.6K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 — | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.5K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 —
- HOG: Sep 2021 ₹5.1K Cr | Dec 2021 ₹5.0K Cr | Mar 2022 ₹5.2K Cr | Jun 2022 ₹5.5K Cr | Sep 2022 ₹5.3K Cr | Dec 2022 ₹5.5K Cr | Mar 2023 ₹5.6K Cr | Jun 2023 ₹5.7K Cr | Sep 2023 ₹5.6K Cr | Dec 2023 ₹5.8K Cr | Mar 2024 ₹5.9K Cr | Jun 2024 ₹5.7K Cr | Sep 2024 ₹5.6K Cr | Dec 2024 ₹5.5K Cr | Mar 2025 ₹5.4K Cr | Jun 2025 ₹5.4K Cr | Sep 2025 ₹3.7K Cr | Dec 2025 ₹225 Cr | Mar 2026 ₹644 Cr | Jun 2026 ₹613 Cr
- WGO: Sep 2021 ₹120 Cr | Dec 2021 ₹348 Cr | Mar 2022 ₹444 Cr | Jun 2022 ₹345 Cr | Sep 2022 ₹304 Cr | Dec 2022 ₹358 Cr | Mar 2023 ₹404 Cr | Jun 2023 ₹407 Cr | Sep 2023 ₹324 Cr | Dec 2023 ₹414 Cr | Mar 2024 ₹468 Cr | Jun 2024 ₹425 Cr | Sep 2024 ₹411 Cr | Dec 2024 ₹479 Cr | Mar 2025 ₹526 Cr | Jun 2025 ₹570 Cr | Sep 2025 ₹406 Cr | Dec 2025 ₹397 Cr | Mar 2026 ₹431 Cr | Jun 2026 ₹420 Cr
- MCFT: Sep 2021 — | Dec 2021 ₹72 Cr | Mar 2022 ₹60 Cr | Jun 2022 ₹51 Cr | Sep 2022 — | Dec 2022 ₹15 Cr | Mar 2023 ₹-34 Cr | Jun 2023 ₹-47 Cr | Sep 2023 — | Dec 2023 ₹-37 Cr | Mar 2024 ₹-56 Cr | Jun 2024 ₹-37 Cr | Sep 2024 ₹-33 Cr | Dec 2024 ₹-63 Cr | Mar 2025 ₹-67 Cr | Jun 2025 ₹-79 Cr | Sep 2025 ₹-67 Cr | Dec 2025 ₹-25 Cr | Mar 2026 ₹-85 Cr | Jun 2026 —
- MBUU: Sep 2021 ₹93 Cr | Dec 2021 ₹78 Cr | Mar 2022 ₹63 Cr | Jun 2022 ₹36 Cr | Sep 2022 ₹27 Cr | Dec 2022 ₹20 Cr | Mar 2023 ₹-15 Cr | Jun 2023 ₹-79 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹-21 Cr | Mar 2024 ₹-32 Cr | Jun 2024 ₹-27 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹-12 Cr | Mar 2025 ₹-11 Cr | Jun 2025 ₹-19 Cr | Sep 2025 ₹-21 Cr | Dec 2025 ₹-8 Cr | Mar 2026 ₹115 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: BRP Inc. leads ROCE at 5.6%, 2.1 percentage points above LCI Industries. BRP Inc. has the strongest latest improvement at +3.3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: BRP Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: BRP Inc. · 5.6% | 60% versus #2 · LCI Industries | 2/8 recent comparable periods | 10/10 companies · 184 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. BRP Inc. (DOO): 5.6%
2. LCI Industries (LCII): 3.5%
3. Patrick Industries, Inc. (PATK): 2.3%
4. THOR Industries, Inc. (THO): 1.7%
5. Winnebago Industries, Inc. (WGO): 1.3%

### ROCE change — fastest improvers
1. BRP Inc. (DOO): +3.3 pp
2. LCI Industries (LCII): +0.4 pp
3. Harley-Davidson, Inc. (HOG): −0.1 pp
4. Patrick Industries, Inc. (PATK): −0.1 pp
5. Polaris Inc. (PII): −0.2 pp

### 20-quarter ROCE history
- BC: Sep 2021 — | Dec 2021 6.3% | Mar 2022 — | Jun 2022 6.3% | Sep 2022 7.2% | Dec 2022 5.5% | Mar 2023 — | Jun 2023 4.9% | Sep 2023 4.0% | Dec 2023 2.3% | Mar 2024 2.3% | Jun 2024 3.3% | Sep 2024 2.1% | Dec 2024 -1.3% | Mar 2025 1.2% | Jun 2025 2.2% | Sep 2025 -5.4% | Dec 2025 1.0% | Mar 2026 — | Jun 2026 1.2%
- DOO: Sep 2021 — | Dec 2021 7.0% | Mar 2022 14% | Jun 2022 8.5% | Sep 2022 14% | Dec 2022 14% | Mar 2023 14% | Jun 2023 8.9% | Sep 2023 11% | Dec 2023 9.8% | Mar 2024 8.0% | Jun 2024 4.6% | Sep 2024 2.9% | Dec 2024 3.4% | Mar 2025 2.6% | Jun 2025 2.3% | Sep 2025 2.2% | Dec 2025 5.2% | Mar 2026 0.3% | Jun 2026 5.6%
- THO: Sep 2021 — | Dec 2021 6.5% | Mar 2022 7.0% | Jun 2022 9.2% | Sep 2022 6.8% | Dec 2022 3.7% | Mar 2023 0.7% | Jun 2023 3.2% | Sep 2023 2.7% | Dec 2023 1.9% | Mar 2024 0.3% | Jun 2024 2.9% | Sep 2024 2.5% | Dec 2024 0.2% | Mar 2025 0.2% | Jun 2025 3.2% | Sep 2025 1.9% | Dec 2025 0.7% | Mar 2026 0.2% | Jun 2026 1.7%
- PII: Sep 2021 5.7% | Dec 2021 5.8% | Mar 2022 3.6% | Jun 2022 6.9% | Sep 2022 8.6% | Dec 2022 9.0% | Mar 2023 5.5% | Jun 2023 6.6% | Sep 2023 6.5% | Dec 2023 4.4% | Mar 2024 1.2% | Jun 2024 3.5% | Sep 2024 2.0% | Dec 2024 1.9% | Mar 2025 -1.1% | Jun 2025 -0.4% | Sep 2025 0.7% | Dec 2025 -1.1% | Mar 2026 -1.3% | Jun 2026 —
- LCII: Sep 2021 4.3% | Dec 2021 5.0% | Mar 2022 11% | Jun 2022 8.6% | Sep 2022 3.4% | Dec 2022 -0.8% | Mar 2023 0.7% | Jun 2023 2.0% | Sep 2023 1.7% | Dec 2023 0.1% | Mar 2024 2.2% | Jun 2024 3.5% | Sep 2024 2.1% | Dec 2024 0.6% | Mar 2025 3.1% | Jun 2025 3.3% | Sep 2025 2.7% | Dec 2025 1.4% | Mar 2026 3.5% | Jun 2026 —
- PATK: Sep 2021 5.7% | Dec 2021 5.1% | Mar 2022 8.1% | Jun 2022 7.8% | Sep 2022 4.2% | Dec 2022 2.9% | Mar 2023 — | Jun 2023 2.3% | Sep 2023 3.1% | Dec 2023 3.0% | Mar 2024 2.3% | Jun 2024 3.4% | Sep 2024 2.9% | Dec 2024 1.6% | Mar 2025 2.4% | Jun 2025 3.3% | Sep 2025 2.4% | Dec 2025 2.1% | Mar 2026 2.3% | Jun 2026 —
- HOG: Sep 2021 2.5% | Dec 2021 -0.1% | Mar 2022 3.7% | Jun 2022 3.5% | Sep 2022 4.2% | Dec 2022 0.0% | Mar 2023 4.5% | Jun 2023 2.5% | Sep 2023 2.3% | Dec 2023 -0.3% | Mar 2024 3.0% | Jun 2024 2.6% | Sep 2024 1.1% | Dec 2024 -2.3% | Mar 2025 1.8% | Jun 2025 1.3% | Sep 2025 5.9% | Dec 2025 -5.3% | Mar 2026 0.3% | Jun 2026 1.2%
- WGO: Sep 2021 — | Dec 2021 9.0% | Mar 2022 8.1% | Jun 2022 10% | Sep 2022 7.0% | Dec 2022 4.6% | Mar 2023 4.0% | Jun 2023 4.1% | Sep 2023 2.9% | Dec 2023 2.0% | Mar 2024 1.7% | Jun 2024 2.2% | Sep 2024 -0.9% | Dec 2024 0.0% | Mar 2025 0.4% | Jun 2025 1.6% | Sep 2025 1.1% | Dec 2025 0.7% | Mar 2026 0.7% | Jun 2026 1.3%
- MCFT: Sep 2021 — | Dec 2021 9.2% | Mar 2022 13% | Jun 2022 17% | Sep 2022 — | Dec 2022 16% | Mar 2023 13% | Jun 2023 13% | Sep 2023 — | Dec 2023 4.7% | Mar 2024 2.8% | Jun 2024 -0.2% | Sep 2024 0.4% | Dec 2024 0.1% | Mar 2025 1.8% | Jun 2025 2.7% | Sep 2025 1.7% | Dec 2025 1.4% | Mar 2026 -0.7% | Jun 2026 —
- MBUU: Sep 2021 7.6% | Dec 2021 7.1% | Mar 2022 12% | Jun 2022 9.9% | Sep 2022 7.9% | Dec 2022 7.5% | Mar 2023 11% | Jun 2023 -3.2% | Sep 2023 3.9% | Dec 2023 2.0% | Mar 2024 -11% | Jun 2024 -3.8% | Sep 2024 -0.8% | Dec 2024 0.5% | Mar 2025 2.8% | Jun 2025 1.1% | Sep 2025 -0.1% | Dec 2025 -0.6% | Mar 2026 -0.3% | Jun 2026 —

### 20-quarter ROCE change history
- BC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.8 pp | Mar 2023 — | Jun 2023 −1.4 pp | Sep 2023 −3.2 pp | Dec 2023 −3.2 pp | Mar 2024 — | Jun 2024 −1.6 pp | Sep 2024 −1.9 pp | Dec 2024 −3.6 pp | Mar 2025 −1.1 pp | Jun 2025 −1.1 pp | Sep 2025 −7.5 pp | Dec 2025 +2.3 pp | Mar 2026 — | Jun 2026 −1.0 pp
- DOO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +7.1 pp | Mar 2023 +0.1 pp | Jun 2023 +0.4 pp | Sep 2023 −2.8 pp | Dec 2023 −4.3 pp | Mar 2024 −5.7 pp | Jun 2024 −4.3 pp | Sep 2024 −8.2 pp | Dec 2024 −6.4 pp | Mar 2025 −5.4 pp | Jun 2025 −2.3 pp | Sep 2025 −0.7 pp | Dec 2025 +1.8 pp | Mar 2026 −2.3 pp | Jun 2026 +3.3 pp
- THO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −2.8 pp | Mar 2023 −6.3 pp | Jun 2023 −6.0 pp | Sep 2023 −4.1 pp | Dec 2023 −1.8 pp | Mar 2024 −0.4 pp | Jun 2024 −0.3 pp | Sep 2024 −0.2 pp | Dec 2024 −1.7 pp | Mar 2025 −0.1 pp | Jun 2025 +0.3 pp | Sep 2025 −0.6 pp | Dec 2025 +0.5 pp | Mar 2026 0.0 pp | Jun 2026 −1.5 pp
- PII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.9 pp | Dec 2022 +3.2 pp | Mar 2023 +1.9 pp | Jun 2023 −0.3 pp | Sep 2023 −2.1 pp | Dec 2023 −4.6 pp | Mar 2024 −4.3 pp | Jun 2024 −3.1 pp | Sep 2024 −4.5 pp | Dec 2024 −2.5 pp | Mar 2025 −2.3 pp | Jun 2025 −3.9 pp | Sep 2025 −1.3 pp | Dec 2025 −3.0 pp | Mar 2026 −0.2 pp | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.9 pp | Dec 2022 −5.8 pp | Mar 2023 −10.4 pp | Jun 2023 −6.6 pp | Sep 2023 −1.7 pp | Dec 2023 +0.9 pp | Mar 2024 +1.5 pp | Jun 2024 +1.5 pp | Sep 2024 +0.4 pp | Dec 2024 +0.5 pp | Mar 2025 +0.9 pp | Jun 2025 −0.2 pp | Sep 2025 +0.6 pp | Dec 2025 +0.8 pp | Mar 2026 +0.4 pp | Jun 2026 —
- PATK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.5 pp | Dec 2022 −2.2 pp | Mar 2023 — | Jun 2023 −5.5 pp | Sep 2023 −1.1 pp | Dec 2023 +0.1 pp | Mar 2024 — | Jun 2024 +1.1 pp | Sep 2024 −0.2 pp | Dec 2024 −1.4 pp | Mar 2025 +0.1 pp | Jun 2025 −0.1 pp | Sep 2025 −0.5 pp | Dec 2025 +0.5 pp | Mar 2026 −0.1 pp | Jun 2026 —
- HOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.7 pp | Dec 2022 +0.1 pp | Mar 2023 +0.8 pp | Jun 2023 −1.0 pp | Sep 2023 −1.9 pp | Dec 2023 −0.3 pp | Mar 2024 −1.5 pp | Jun 2024 +0.1 pp | Sep 2024 −1.2 pp | Dec 2024 −2.0 pp | Mar 2025 −1.2 pp | Jun 2025 −1.3 pp | Sep 2025 +4.8 pp | Dec 2025 −3.0 pp | Mar 2026 −1.5 pp | Jun 2026 −0.1 pp
- WGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −4.4 pp | Mar 2023 −4.1 pp | Jun 2023 −6.0 pp | Sep 2023 −4.1 pp | Dec 2023 −2.6 pp | Mar 2024 −2.3 pp | Jun 2024 −1.9 pp | Sep 2024 −3.8 pp | Dec 2024 −2.0 pp | Mar 2025 −1.3 pp | Jun 2025 −0.6 pp | Sep 2025 +2.0 pp | Dec 2025 +0.7 pp | Mar 2026 +0.3 pp | Jun 2026 −0.3 pp
- MCFT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +6.6 pp | Mar 2023 −0.5 pp | Jun 2023 −3.5 pp | Sep 2023 — | Dec 2023 −11.1 pp | Mar 2024 −9.8 pp | Jun 2024 −13.4 pp | Sep 2024 — | Dec 2024 −4.6 pp | Mar 2025 −1.0 pp | Jun 2025 +2.9 pp | Sep 2025 +1.3 pp | Dec 2025 +1.3 pp | Mar 2026 −2.5 pp | Jun 2026 —
- MBUU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.3 pp | Dec 2022 +0.4 pp | Mar 2023 −1.4 pp | Jun 2023 −13.1 pp | Sep 2023 −4.0 pp | Dec 2023 −5.5 pp | Mar 2024 −21.4 pp | Jun 2024 −0.6 pp | Sep 2024 −4.7 pp | Dec 2024 −1.5 pp | Mar 2025 +13.7 pp | Jun 2025 +4.9 pp | Sep 2025 +0.7 pp | Dec 2025 −1.1 pp | Mar 2026 −3.1 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: BRP Inc. has the lowest comparable Guarded PEG at 0.29×, 35.6% below LCI Industries. Only 3 of 10 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: BRP Inc. · 0.29× | 35.6% versus #2 · LCI Industries | 0/8 recent comparable periods | 3/10 companies · 17 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. BRP Inc. (DOO): 0.3
2. LCI Industries (LCII): 0.5
3. THOR Industries, Inc. (THO): 0.8

### P/E — lowest P/E
1. Harley-Davidson, Inc. (HOG): 15.0
2. LCI Industries (LCII): 15.0
3. THOR Industries, Inc. (THO): 16.0
4. Winnebago Industries, Inc. (WGO): 21.8
5. BRP Inc. (DOO): 24.8

### 20-quarter Guarded PEG history
- DOO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.2 | Sep 2023 0.2 | Dec 2023 — | Mar 2024 0.3 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- THO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 0.6 | Mar 2026 0.4 | Jun 2026 0.8
- PII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.7 | Jun 2023 — | Sep 2023 — | Dec 2023 0.7 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LCII: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 1.4 | Dec 2024 — | Mar 2025 0.3 | Jun 2025 1.3 | Sep 2025 0.5 | Dec 2025 0.5 | Mar 2026 0.5 | Jun 2026 —
- HOG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.2 | Jun 2023 0.2 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- MBUU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.3 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- BC: Sep 2021 — | Dec 2021 13.0 | Mar 2022 — | Jun 2022 10.4 | Sep 2022 8.3 | Dec 2022 7.8 | Mar 2023 — | Jun 2023 9.8 | Sep 2023 11.3 | Dec 2023 16.2 | Mar 2024 17.4 | Jun 2024 14.2 | Sep 2024 20.0 | Dec 2024 33.5 | Mar 2025 42.8 | Jun 2025 84.2 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- DOO: Sep 2021 — | Dec 2021 11.2 | Mar 2022 11.4 | Jun 2022 13.1 | Sep 2022 11.6 | Dec 2022 10.5 | Mar 2023 10.4 | Jun 2023 9.1 | Sep 2023 9.7 | Dec 2023 6.7 | Mar 2024 7.2 | Jun 2024 12.3 | Sep 2024 30.5 | Dec 2024 12.5 | Mar 2025 — | Jun 2025 25.1 | Sep 2025 33.2 | Dec 2025 32.2 | Mar 2026 26.0 | Jun 2026 24.8
- THO: Sep 2021 — | Dec 2021 7.2 | Mar 2022 5.7 | Jun 2022 3.9 | Sep 2022 4.1 | Dec 2022 4.3 | Mar 2023 6.6 | Jun 2023 7.6 | Sep 2023 16.6 | Dec 2023 16.3 | Mar 2024 22.4 | Jun 2024 20.2 | Sep 2024 21.5 | Dec 2024 26.5 | Mar 2025 27.2 | Jun 2025 17.4 | Sep 2025 18.8 | Dec 2025 19.7 | Mar 2026 19.8 | Jun 2026 16.0
- PII: Sep 2021 12.4 | Dec 2021 14.0 | Mar 2022 15.1 | Jun 2022 22.7 | Sep 2022 17.0 | Dec 2022 13.6 | Mar 2023 13.3 | Jun 2023 11.3 | Sep 2023 10.2 | Dec 2023 10.9 | Mar 2024 14.7 | Jun 2024 13.7 | Sep 2024 23.3 | Dec 2024 29.6 | Mar 2025 56.9 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LCII: Sep 2021 13.5 | Dec 2021 13.8 | Mar 2022 6.5 | Jun 2022 5.8 | Sep 2022 5.2 | Dec 2022 5.0 | Mar 2023 13.6 | Jun 2023 37.8 | Sep 2023 60.5 | Dec 2023 49.9 | Mar 2024 33.5 | Jun 2024 21.7 | Sep 2024 23.5 | Dec 2024 18.5 | Mar 2025 14.3 | Jun 2025 15.2 | Sep 2025 13.2 | Dec 2025 16.0 | Mar 2026 15.0 | Jun 2026 —
- PATK: Sep 2021 9.3 | Dec 2021 8.2 | Mar 2022 5.2 | Jun 2022 3.7 | Sep 2022 3.0 | Dec 2022 4.5 | Mar 2023 — | Jun 2023 6.4 | Sep 2023 10.1 | Dec 2023 10.3 | Mar 2024 17.7 | Jun 2024 15.6 | Sep 2024 20.4 | Dec 2024 20.2 | Mar 2025 20.1 | Jun 2025 25.1 | Sep 2025 29.6 | Dec 2025 27.8 | Mar 2026 27.5 | Jun 2026 —
- HOG: Sep 2021 11.1 | Dec 2021 9.0 | Mar 2022 9.7 | Jun 2022 8.0 | Sep 2022 7.8 | Dec 2022 8.4 | Mar 2023 6.8 | Jun 2023 6.6 | Sep 2023 6.7 | Dec 2023 7.6 | Mar 2024 9.7 | Jun 2024 6.8 | Sep 2024 8.7 | Dec 2024 8.8 | Mar 2025 9.4 | Jun 2025 12.2 | Sep 2025 6.8 | Dec 2025 7.4 | Mar 2026 11.5 | Jun 2026 15.0
- WGO: Sep 2021 — | Dec 2021 7.9 | Mar 2022 6.2 | Jun 2022 4.3 | Sep 2022 5.2 | Dec 2022 5.6 | Mar 2023 6.8 | Jun 2023 7.7 | Sep 2023 10.2 | Dec 2023 12.7 | Mar 2024 21.1 | Jun 2024 23.1 | Sep 2024 135.6 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 39.5 | Dec 2025 28.3 | Mar 2026 27.1 | Jun 2026 21.8
- MCFT: Sep 2021 — | Dec 2021 8.3 | Mar 2022 8.7 | Jun 2022 7.0 | Sep 2022 — | Dec 2022 4.7 | Mar 2023 6.0 | Jun 2023 6.8 | Sep 2023 — | Dec 2023 5.3 | Mar 2024 9.3 | Jun 2024 13.9 | Sep 2024 41.2 | Dec 2024 187.2 | Mar 2025 156.7 | Jun 2025 28.6 | Sep 2025 23.0 | Dec 2025 20.7 | Mar 2026 31.6 | Jun 2026 —
- MBUU: Sep 2021 12.7 | Dec 2021 11.7 | Mar 2022 8.5 | Jun 2022 7.0 | Sep 2022 6.1 | Dec 2022 6.5 | Mar 2023 6.9 | Jun 2023 11.6 | Sep 2023 11.3 | Dec 2023 17.6 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 41.2 | Sep 2025 33.1 | Dec 2025 38.6 | Mar 2026 — | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: THOR Industries, Inc. leads ev/ebitda at 6.53×; Winnebago Industries, Inc. leads p/bv at 0.68×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: THOR Industries, Inc. · 6.53× | 17.3% versus #2 · BRP Inc. | 0/8 recent comparable periods | 10/10 companies · 179 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. THOR Industries, Inc. (THO): 6.5
2. BRP Inc. (DOO): 7.9
3. Winnebago Industries, Inc. (WGO): 9.8
4. Patrick Industries, Inc. (PATK): 11.5
5. MasterCraft Boat Holdings, Inc. (MCFT): 12.3

### P/BV — lowest P/BV
1. Winnebago Industries, Inc. (WGO): 0.7
2. Harley-Davidson, Inc. (HOG): 0.7
3. THOR Industries, Inc. (THO): 1.0
4. Malibu Boats, Inc. (MBUU): 1.0
5. MasterCraft Boat Holdings, Inc. (MCFT): 1.8

### 20-quarter EV/EBITDA history
- BC: Sep 2021 — | Dec 2021 7.9 | Mar 2022 — | Jun 2022 7.9 | Sep 2022 6.6 | Dec 2022 6.3 | Mar 2023 — | Jun 2023 6.8 | Sep 2023 7.3 | Dec 2023 8.6 | Mar 2024 10.1 | Jun 2024 8.5 | Sep 2024 10.6 | Dec 2024 10.8 | Mar 2025 10.7 | Jun 2025 11.6 | Sep 2025 39.8 | Dec 2025 27.1 | Mar 2026 — | Jun 2026 27.7
- DOO: Sep 2021 — | Dec 2021 8.2 | Mar 2022 7.2 | Jun 2022 8.1 | Sep 2022 7.5 | Dec 2022 6.3 | Mar 2023 6.9 | Jun 2023 6.1 | Sep 2023 6.5 | Dec 2023 5.4 | Mar 2024 4.9 | Jun 2024 5.7 | Sep 2024 7.2 | Dec 2024 6.6 | Mar 2025 8.2 | Jun 2025 6.9 | Sep 2025 9.1 | Dec 2025 9.6 | Mar 2026 11.5 | Jun 2026 7.9
- THO: Sep 2021 — | Dec 2021 5.9 | Mar 2022 4.8 | Jun 2022 3.4 | Sep 2022 3.3 | Dec 2022 3.4 | Mar 2023 4.8 | Jun 2023 5.2 | Sep 2023 8.2 | Dec 2023 7.4 | Mar 2024 9.7 | Jun 2024 8.7 | Sep 2024 9.0 | Dec 2024 10.3 | Mar 2025 10.4 | Jun 2025 6.6 | Sep 2025 9.1 | Dec 2025 9.0 | Mar 2026 8.3 | Jun 2026 6.5
- PII: Sep 2021 8.1 | Dec 2021 8.7 | Mar 2022 9.4 | Jun 2022 9.3 | Sep 2022 8.0 | Dec 2022 7.2 | Mar 2023 7.3 | Jun 2023 7.8 | Sep 2023 7.3 | Dec 2023 7.2 | Mar 2024 8.9 | Jun 2024 8.0 | Sep 2024 10.1 | Dec 2024 8.7 | Mar 2025 8.0 | Jun 2025 8.7 | Sep 2025 12.1 | Dec 2025 — | Mar 2026 16.6 | Jun 2026 —
- LCII: Sep 2021 11.5 | Dec 2021 10.5 | Mar 2022 7.2 | Jun 2022 6.0 | Sep 2022 6.9 | Dec 2022 5.4 | Mar 2023 13.5 | Jun 2023 31.3 | Sep 2023 33.3 | Dec 2023 16.6 | Mar 2024 26.2 | Jun 2024 18.3 | Sep 2024 18.3 | Dec 2024 10.1 | Mar 2025 13.0 | Jun 2025 13.9 | Sep 2025 7.9 | Dec 2025 9.8 | Mar 2026 13.9 | Jun 2026 —
- PATK: Sep 2021 7.5 | Dec 2021 7.1 | Mar 2022 5.5 | Jun 2022 4.3 | Sep 2022 3.8 | Dec 2022 4.4 | Mar 2023 — | Jun 2023 5.7 | Sep 2023 7.3 | Dec 2023 7.1 | Mar 2024 10.3 | Jun 2024 9.1 | Sep 2024 10.8 | Dec 2024 10.1 | Mar 2025 10.1 | Jun 2025 10.4 | Sep 2025 11.6 | Dec 2025 11.4 | Mar 2026 11.5 | Jun 2026 —
- HOG: Sep 2021 15.4 | Dec 2021 13.1 | Mar 2022 14.5 | Jun 2022 13.5 | Sep 2022 12.0 | Dec 2022 12.7 | Mar 2023 11.3 | Jun 2023 11.5 | Sep 2023 12.8 | Dec 2023 10.7 | Mar 2024 17.7 | Jun 2024 14.8 | Sep 2024 18.2 | Dec 2024 13.9 | Mar 2025 27.3 | Jun 2025 44.6 | Sep 2025 12.7 | Dec 2025 4.1 | Mar 2026 11.6 | Jun 2026 15.0
- WGO: Sep 2021 — | Dec 2021 5.6 | Mar 2022 4.6 | Jun 2022 3.0 | Sep 2022 3.4 | Dec 2022 3.8 | Mar 2023 4.6 | Jun 2023 5.2 | Sep 2023 6.4 | Dec 2023 7.8 | Mar 2024 9.5 | Jun 2024 9.3 | Sep 2024 13.4 | Dec 2024 17.8 | Mar 2025 17.7 | Jun 2025 18.8 | Sep 2025 12.0 | Dec 2025 10.7 | Mar 2026 11.4 | Jun 2026 9.8
- MCFT: Sep 2021 — | Dec 2021 6.3 | Mar 2022 6.1 | Jun 2022 4.7 | Sep 2022 — | Dec 2022 2.5 | Mar 2023 2.9 | Jun 2023 3.4 | Sep 2023 — | Dec 2023 3.3 | Mar 2024 5.3 | Jun 2024 7.8 | Sep 2024 10.3 | Dec 2024 15.7 | Mar 2025 16.1 | Jun 2025 10.8 | Sep 2025 12.2 | Dec 2025 11.2 | Mar 2026 12.4 | Jun 2026 —
- MBUU: Sep 2021 8.6 | Dec 2021 7.8 | Mar 2022 5.8 | Jun 2022 4.7 | Sep 2022 4.0 | Dec 2022 4.3 | Mar 2023 4.4 | Jun 2023 6.6 | Sep 2023 6.7 | Dec 2023 9.1 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 21.2 | Jun 2025 9.7 | Sep 2025 9.2 | Dec 2025 8.8 | Mar 2026 15.1 | Jun 2026 —

### 20-quarter P/BV history
- BC: Sep 2021 — | Dec 2021 4.1 | Mar 2022 — | Jun 2022 3.1 | Sep 2022 2.5 | Dec 2022 2.4 | Mar 2023 — | Jun 2023 2.8 | Sep 2023 2.9 | Dec 2023 3.2 | Mar 2024 3.2 | Jun 2024 2.4 | Sep 2024 2.8 | Dec 2024 2.3 | Mar 2025 1.9 | Jun 2025 1.9 | Sep 2025 2.5 | Dec 2025 3.0 | Mar 2026 — | Jun 2026 3.0
- THO: Sep 2021 — | Dec 2021 1.8 | Mar 2022 1.6 | Jun 2022 1.2 | Sep 2022 1.3 | Dec 2022 1.2 | Mar 2023 1.4 | Jun 2023 1.1 | Sep 2023 1.6 | Dec 2023 1.2 | Mar 2024 1.5 | Jun 2024 1.3 | Sep 2024 1.4 | Dec 2024 1.4 | Mar 2025 1.4 | Jun 2025 0.9 | Sep 2025 1.1 | Dec 2025 1.3 | Mar 2026 1.4 | Jun 2026 1.0
- PII: Sep 2021 6.0 | Dec 2021 5.4 | Mar 2022 5.6 | Jun 2022 5.5 | Sep 2022 5.5 | Dec 2022 5.2 | Mar 2023 5.5 | Jun 2023 5.5 | Sep 2023 4.4 | Dec 2023 3.8 | Mar 2024 4.1 | Jun 2024 3.3 | Sep 2024 3.5 | Dec 2024 2.5 | Mar 2025 1.9 | Jun 2025 1.9 | Sep 2025 2.8 | Dec 2025 4.3 | Mar 2026 4.1 | Jun 2026 —
- LCII: Sep 2021 3.3 | Dec 2021 3.6 | Mar 2022 2.1 | Jun 2022 2.0 | Sep 2022 1.8 | Dec 2022 1.7 | Mar 2023 2.0 | Jun 2023 2.3 | Sep 2023 2.2 | Dec 2023 2.4 | Mar 2024 2.3 | Jun 2024 1.9 | Sep 2024 2.2 | Dec 2024 1.9 | Mar 2025 1.6 | Jun 2025 1.7 | Sep 2025 1.7 | Dec 2025 2.2 | Mar 2026 2.2 | Jun 2026 —
- PATK: Sep 2021 2.8 | Dec 2021 2.5 | Mar 2022 1.8 | Jun 2022 1.4 | Sep 2022 1.1 | Dec 2022 1.4 | Mar 2023 — | Jun 2023 1.6 | Sep 2023 1.8 | Dec 2023 1.6 | Mar 2024 2.5 | Jun 2024 2.2 | Sep 2024 2.8 | Dec 2024 2.5 | Mar 2025 2.5 | Jun 2025 2.7 | Sep 2025 3.0 | Dec 2025 3.0 | Mar 2026 3.0 | Jun 2026 —
- HOG: Sep 2021 2.5 | Dec 2021 2.3 | Mar 2022 2.4 | Jun 2022 1.8 | Sep 2022 1.9 | Dec 2022 2.1 | Mar 2023 1.8 | Jun 2023 1.6 | Sep 2023 1.4 | Dec 2023 1.6 | Mar 2024 1.8 | Jun 2024 1.3 | Sep 2024 1.5 | Dec 2024 1.2 | Mar 2025 1.0 | Jun 2025 0.9 | Sep 2025 1.0 | Dec 2025 0.7 | Mar 2026 0.7 | Jun 2026 —
- WGO: Sep 2021 — | Dec 2021 2.1 | Mar 2022 1.7 | Jun 2022 1.2 | Sep 2022 1.5 | Dec 2022 1.4 | Mar 2023 1.5 | Jun 2023 1.3 | Sep 2023 1.4 | Dec 2023 1.5 | Mar 2024 1.6 | Jun 2024 1.3 | Sep 2024 1.4 | Dec 2024 1.3 | Mar 2025 0.9 | Jun 2025 0.8 | Sep 2025 0.8 | Dec 2025 0.8 | Mar 2026 0.9 | Jun 2026 0.7
- MCFT: Sep 2021 — | Dec 2021 4.2 | Mar 2022 4.3 | Jun 2022 3.3 | Sep 2022 — | Dec 2022 2.4 | Mar 2023 2.9 | Jun 2023 3.0 | Sep 2023 — | Dec 2023 2.0 | Mar 2024 2.1 | Jun 2024 1.7 | Sep 2024 1.7 | Dec 2024 1.8 | Mar 2025 1.6 | Jun 2025 1.7 | Sep 2025 1.9 | Dec 2025 1.7 | Mar 2026 1.8 | Jun 2026 —
- MBUU: Sep 2021 3.6 | Dec 2021 3.4 | Mar 2022 2.6 | Jun 2022 2.2 | Sep 2022 1.8 | Dec 2022 1.9 | Mar 2023 1.9 | Jun 2023 2.0 | Sep 2023 1.6 | Dec 2023 1.8 | Mar 2024 1.6 | Jun 2024 1.3 | Sep 2024 1.5 | Dec 2024 1.5 | Mar 2025 1.2 | Jun 2025 1.2 | Sep 2025 1.2 | Dec 2025 1.1 | Mar 2026 1.0 | Jun 2026 —

## Market action

Brunswick Corporation has the strongest one-year price move in Recreational Vehicles at +44.8%. MasterCraft Boat Holdings, Inc. leads on Mansfield relative strength against the S&P 500 at +7.2%. 3 of 10 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Brunswick Corporation (BC): 45%
2. Polaris Inc. (PII): 44%
3. MasterCraft Boat Holdings, Inc. (MCFT): 32%
4. BRP Inc. (DOO): 27%
5. LCI Industries (LCII): 14%

### Strongest relative strength versus NIFTY 500
1. MasterCraft Boat Holdings, Inc. (MCFT): 7.2%
2. Polaris Inc. (PII): 4.7%
3. Brunswick Corporation (BC): 2.6%
4. Harley-Davidson, Inc. (HOG): -1.8%
5. Malibu Boats, Inc. (MBUU): -9.8%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

## Every company
- Brunswick Corporation (BC) — market value ₹5.3K Cr; latest fundamentals Jun 2026
- BRP Inc. (DOO) — market value ₹4.6K Cr; latest fundamentals Jun 2026
- THOR Industries, Inc. (THO) — market value ₹4.1K Cr; latest fundamentals Jun 2026
- Polaris Inc. (PII) — market value ₹4.1K Cr; latest fundamentals Mar 2026
- LCI Industries (LCII) — market value ₹3.1K Cr; latest fundamentals Mar 2026
- Patrick Industries, Inc. (PATK) — market value ₹2.9K Cr; latest fundamentals Mar 2026
- Harley-Davidson, Inc. (HOG) — market value ₹2.7K Cr; latest fundamentals Jun 2026
- Winnebago Industries, Inc. (WGO) — market value ₹908 Cr; latest fundamentals Jun 2026
- MasterCraft Boat Holdings, Inc. (MCFT) — market value ₹607 Cr; latest fundamentals Mar 2026
- Malibu Boats, Inc. (MBUU) — market value ₹567 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Recreational Vehicles company is the biggest?

THOR Industries, Inc. is the largest, with trailing-twelve-month revenue of $9,821 million, ahead of BRP Inc. at $8,987 million. That covers 8 of 10 companies with comparable reporting through Jun 2026.

### Which Recreational Vehicles company is growing fastest?

BRP Inc. has the fastest revenue growth at 16% year on year, across 8 of 10 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Recreational Vehicles company has the best profit margins?

BRP Inc. has the highest operating margin at 9.4%, from 10 of 10 comparable companies. BRP Inc. shows the biggest recent improvement, at +4.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Recreational Vehicles company makes the most profit?

BRP Inc. earns the most, at $307 million of trailing-twelve-month net profit, from 8 of 10 comparable companies. MasterCraft Boat Holdings, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Recreational Vehicles company earns the highest return on capital?

BRP Inc. leads on return on capital employed at 5.6%, across 10 of 10 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Recreational Vehicles stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — BRP Inc. screens cheapest at 0.29×. Only 3 of 10 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Recreational Vehicles company has the strongest balance sheet?

MasterCraft Boat Holdings, Inc. carries the lowest comparable gross debt at $0 million, from 10 of 10 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Recreational Vehicles company is investing most in new capacity?

Brunswick Corporation reports the largest capital spending at $57 million, across 10 of 10 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Recreational Vehicles sector beating the market?

Recreational Vehicles has underperformed S&P 500 by 1.7% over the last 52 weeks and 1.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 3 of 10 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Recreational Vehicles stock has the strongest price momentum?

MasterCraft Boat Holdings, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Recreational Vehicles company scores highest for research priority?

BRP Inc. scores 69.6 out of 100 with 86.2% evidence confidence, from 31.7 points on growth and earnings, 12.8 on capital efficiency, 15.2 on valuation and 9.9 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Recreational Vehicles companies does this comparison cover, and over what period?

It compares 10 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Recreational Vehicles sector?

The 10 Recreational Vehicles companies on this page carry $28,900 million of combined market value. Brunswick Corporation is the largest at $5,329 million, about 18% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Recreational Vehicles sector's P/E ratio?

The median price-to-earnings ratio across the 10 Recreational Vehicles companies on this page is 27.5×, measured on the 10 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Recreational Vehicles sector performing?

3 of the 10 covered Recreational Vehicles companies are beating S&P 500 on Mansfield relative strength. The sector itself is 1.7% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Recreational Vehicles stocks are listed in the US?

This comparison covers 10 listed Recreational Vehicles companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/recreational-vehicles